Goldman Sachs aims to invest $1 billion in India

The top Wall Street firm aims to invest through its principal business as it sets up its own investment bank in India.

Goldman Sachs, a top Wall Street firm, aims to invest $1 billion in India through its principal business as it sets up its own investment bank in the country, a top executive said on Thursday.

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"In the first couple of years we'd like to put $1 billion to work in our principal business," said Brooks Entwistle, chief executive of Goldman Sachs (India), referring to direct investments in companies, real estate and fund of funds.

"We're very focused on putting our own capital to work," he told Reuters in a telephone interview.

Goldman said on Thursday it had sold its stakes in two Indian joint ventures for $74 million to partner Kotak Mahindra Bank Ltd and will set up its own investment banking and securities business in the country.